Euro, Commodities, Stocks Getting Hammered, LinkedIn Fine

By Mark Gongloff

Bloomberg

Today’s shaping up to be a straight-up risk-off day, with the Dow down 90 points, the S&P off more than 9 and the Nasdaq down nearly 17. Crude oil is off 2%, below $97 a barrel, and silver has fallen below $35 an ounce.

The ProShares Ultra Silver ETF is down a whopping 3.5%. The ProShares UltraShort Crude Oil ETF is up nearly 4%.

Leading the way, or at least going along for the ride, is the euro, recently down to $1.4175 against the dollar. Europe is once again ground zero for global risk, with the ECB in a spat with Greece and worries spreading about mountains of Spanish debt waiting to be uncovered.

Unworried by it all? LinkedIn, whose shares are up another 7% today, to more than $100. Apparently people didn’t get the memo that its valuation is ridiculous. But it’s early yet.

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